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IRCTC IPO subscribed 3.25 times on Day 2, retail investors' support continues

The company's business model, strong earnings, big customer base and consistency in business segments has seen domestic as well as global brokerages give a subscribe call for the IPO.

October 04, 2019 / 02:13 PM IST

The initial public offer of the state-owned Indian Railway Catering and Tourism Corporation (IRCTC) was fully subscribed on October 1, the second day of subscription .

Continued support from retail investors saw the issue being subscribed 3.25 times.

The Rs 645-crore initial public offering received bids for 6.55 crore equity shares against the IPO size of 2.016 crore shares, data available on exchanges show.

The retail investor category has been subscribed 6.2 times, while that of non-institutional investors 1.73 times and qualified institutional buyers 1.65 times. The reserved portion of employees subscribed 2.64 times.